The S&P/ASX 200 Index (ASX: XJO) has dropped slightly into the red. At the time of writing, the benchmark index is down a fraction to 7,193.4 points.
Four ASX shares that are acting as a drag on proceedings today are listed below. Here's why they are falling:
APA Group (ASX: APA)
The APA share price is down 3% to $9.72. This has been driven by the energy infrastructure company's shares going ex-dividend this morning for its interim dividend of 29 cents per share. This will now be paid to eligible shareholders on 13 September.
Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is down a further 6% to $2.92. Investors have been hitting the sell button this week after the diversified food company released a bleak trading update. In addition, a number of brokers have responded by downgrading its shares over the last 24 hours.
Transurban Group (ASX: TCL)
The Transurban share price is down 2.5% to $14.12. This has been caused by its shares also going ex-dividend this morning and news that the ACCC has concerns over a proposed acquisition of a majority interest in Horizon Roads. The competition regulator is worried about the impact on competition for future toll road concessions in Victoria.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price has tumbled 7% to $5.31. Investors have been selling this semiconductor company's shares after it returned from a suspension. Embarrassingly, the Australian stock exchange operator was forced to suspend Weebit Nano's shares from trade after it didn't have enough Australian resident directors on its board. It has now appointed its company secretary to the board on an interim basis to allow its shares to trade again.
